The 50 Wealthiest Angelenos: Steven Udvar-Hazy

NET WORTH:

$3.4 billion 7.8%

LAST YEAR: $3.2 billion

AGE: 66

RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Airplane leasing

THE MONEY: Net worth soared this year with gains by major holdings Air Lease Corp. and Skywest. Launched Air Lease in 2010 and took it public in 2011. Owns nearly 5 million shares in company. Boosted investment in Skywest, which has jumped value. Also holds diversified portfolio of stocks, bonds, art and real estate.

BUZZ: Another busy year for Air Lease. Major deals included $9 billion order for Airbus jets and $7.2 billion order for fuel-efficient Boeing planes. Air Lease had net income of $132 million in 2012 on annual revenue of $656 million, nearly twice year-earlier figure. Shares increased 39 percent over the past year. Hungarian-born Udvar-Hazy co-founded airplane leasing pioneer International Lease Finance Corp. in 1973 while student at UCLA. Sold company to

insurance giant AIG in 1990 for $1.3 billion in stock but continued to run company until 2010, when he resigned to start Air Lease Corp. Lifelong aviation geek with pilot certification, Udvar-Hazy has collection of 2,000 model planes.

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